Recent events have caused a paradigm shift towards integrated risk management that considers safety, security and quality management in a cohesive manner. The Integrated Risk Management Guidance Manual (IRMGM) offers a practical guide to Enterprise Risk Management (ERM). A unique tool for any aviation and non-aviation entity that is integrating its management systems, this publication is a "how to" manual on exposing and managing risk as well as determining the maturity level of ERM within your organization.
Beginning with a quick assessment of your current situation, the Integrated Risk Management Guidance material will show you how to design a practical plan tailored to the needs of your organization. It is essential for any publicly traded company as it enables fulfilment of legal requirements and reporting obligations. In addition, it is highly recommended for all other enterprises as best practice and will likely help you obtain better insurance rates.
Order the IRMGM online
What's inside the IRMGM?
- The need for risk management (Reasons why organizations implement risk management, how it was evolved, and moved from being focused on a single area to a strategic-organization wide process)
- Integrated risk management components (Risk management framework, methadology, risk models, risk rating parameters as well as risk management databases, oversight structure, policies, process guidelines, communication plans, training and performance measures)
- How to implement risk management (Step-by-step approach, methadology, timelines, project plan and self-assessment checklist)
- Requirements and benefits of a risk management process (key critical requirements, benefits to the organization, quantitative and qualitative benefits)
- Case studies (Cyberattacks, grounding of an aircraft and effects of COVID-19 on the aviation industry)
- Other reference material (IOSA, ISAGO, AHM, SeMS, ISO31000, AIRMIC, ALARM, IRM risk management standards and requirements; list of global risk management regulatory standards and reports; sample risk models, terms of reference and much more)
Still not sure if the IRMGM is for you? Download the full table of contents along with a integrated risk management self-assessment checklist:
What users say about the manual?
The new Integrated Guide to Risk Management brings to life how to implement risk management in an industry that is strong in culture and process. There is much for others to learn from Aviation. The guide takes a holistic approach to risk management and is full of good practice including how to extend impact analysis beyond financial and physical impacts to reputational considerations.
CEO, AIRMIC (The Association of Insurance and Risk Managers in Industry and Commerce)
London, United Kingdom
IATA's Integrated Risk Management Guidance (IRM) Manual is a superb effort to integrate quality management, safety, and security issues in aviation. The Manual deals with and integrates risks associated with two vital yet often seen as conflicting key goals of any organization-to achieve/realize business goals and to meet regulatory requirements. It correctly emphasizes that risks are interrelated and cannot be managed in isolation. It highlights the importance of communication within the organization to achieve the goals of risk management and recommends ways to improve and introduce effective communication among the various tiers of an organization. I also find the includes Self-Assessment Checklist informative and thought-provoking. In short, I believe this new version of the IRM Manual will be effective in assisting aviation-related organizations to achieve successful risk assessment and management.
Professor Brian F. Havel
Director, Institute of Air and Space Law
McGill University, Montreal, Canada